Croatian Končar taking over local engineering firm HELB

Croatian company Končar agreed to acquire local engineering firm HELB, with 35 years of experience in the power infrastructure sector.

Končar signed an agreement to purchase a 75% ownership stake in limited liability company HELB Ltd. The acquisition target is based in Božjakovina, a village not far from Zagreb.

The deal defines terms and legal actions that the contracting parties agreed to conduct to complete the transaction.

HELB offers a complete service at all stages of a facility’s development

It includes obtaining appropriate approvals for the merger in line with relevant legislation, Končar said.

The contract was signed by Vladimir Horvat, director of HELB, and Gordan Kolak, president of Končar’s Management Board.

HELB offers a complete service at all stages of a facility’s development: from design, production, construction, management and maintenance to testing and commissioning.

“With the acquisition, we want to expand and improve our own resources and competencies, increase system flexibility, and expand our portfolio of products and services in the field of power engineering,” according to Končar.

HELB has implemented projects in more than 50 countries

Over the past three decades, HELB has implemented projects in more than 50 countries worldwide and in all regions of Croatia.

The company has participated in the construction of the Senj and Korlat wind farms, the battery energy storage system for the Vis solar power plant, and wind farms of renewable energy developer Kunovac.

Last year, Končar signed an agreement with Siemens Energy on the establishment of Končar – Transformer Tanks (KTK). The joint venture focuses on manufacturing transformer tanks.